Società Sportiva Lazio was formed in 1900 although the football section of the club was not founded until 1910. In 1929, the club was a member of the first ever Serie A league season. Pre-war, their best league finish was second place in 1937. Lazio's biggest historic rivals are AS Roma, with whom they contest the Rome derby, commonly referred to as the Derby della Capitale.

The club won its first Serie A title in 1973-74, although soon entered into the darkest period in its history. Lazio were relegated from the top flight in 1980 as a result of scandal involving illegal betting on their own matches. The club remained outside of Serie A for three years and after returning, Lazio were immediately relegated once again. In 1986, a second betting scandal, this time involving Claudio Vinazzini, saw the club docked 9 points and relegation to Serie C was narrowly avoided. The team returned to Serie A once again in 1988.

Lazio's most successful period came under the management of Sven-Göran Eriksson. The Swedish manager led Lazio to the UEFA Cup final in 1998 and won the Coppa Italia in the same year. The following season, Lazio won the last ever UEFA Cup Winners' Cup and the UEFA Super Cup. In 1999-2000, Lazio reached even greater heights, winning Serie A and the Coppa Italia to complete the double. In the post-Sven years, Lazio have won the Coppa Italia two more times, in 2003–04 and 2008–09.